Investing in Real Estate : Infosys Managing Director’s Way

The family office, which manages around R6,500 crore through various assets, including his family’s holdings in Infosys, runs a resort in Coorg, Karnataka called ‘The Tamara’, a 56-room luxury property. The family office is registered with the registrar of companies as Innovations Investment Management India.

Infosys MD - Owns 700 Apartments around the worldThe technocrat who co-founded Infosys along with Narayana Murthy and others, has huge interest in buying apartments in India and abroad. He owns 700 apartments in Seattle (USA), Frankfurt, Berlin (Germany) apart from Bangalore, Chennai in India.Bangalore real estate showed resilience during turbulent times from 2008 till now. Bangalore is having for better absorption rate for new residential projects comparing to other cities in India. It is good time for people who want to buy villas or to buy plots, Buy Apartments in Bangalore [that is Flats in Electronic city and Flats in Sarjapur ] for long term investment, as rates have not increased for two years minimum.The family is currently building two hotel properties, a 50-room luxury resort in Kodaikanal, a hill station in Tamil Nadu and a 108-room city hotel in Thiruvananthapuram, Kerala. While the Thiruvananthapuram property entails an investment of around R80 crore, Kodaikanal will need around R50 crore."We realised that we need to be proud of the properties we own. We want to do involvement management, not investment management," said Kumar, who joined Shibulal’s family office in 2005 after some of the family shares were sold at the American Depository Receipts issued by Infosys. An IIM-Bangalore and BITS-Pilani graduate, Kumar said the Coorg property, which started operations in April 2012, broke even in its seccond year."We are doing our own operations and marketing, and gaining experience in running the hospitality business, and we don’t have any partnerships," said Kumar. According to him, the family believes in giving an experience rather than sight-seeing. For instance, the Kodaikanal property is a restoration of a 150-year-old building. "This gives us lots of stories to tell the guests and, today, people are willing to pay the premium."He added, "You can’t click photos of millions of honey bees buzzing when the coffee blossoms," he said, referring to the Tamara, which is built amid a 170-acre coffee plantation.The family also owns nearly 900 acres of plantations of coffee and cardamom in Valparai, Tamil Nadu and Sakhleshpur, Karnataka. The company’s other investments include a 50% stake in ‘Avant Garde Hospitality’, which runs fine-dining restaurants ‘Caperberry’ and ‘Fava’ in Bangalore.Source: Financial Express, Times Of India

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